Here is why Facebook bought Instagram — You might have heard by now that Facebook has acquired Instagram for nearly a billion dollars in cash and stock. Incredible, isn't it? I have received text messages of awe and shock from many people in the Valley, for no one saw this coming.

Instagram + Facebook — When Mike and I started Instagram nearly two years ago, we set out to change and improve the way the world communicates and shares. We've had an amazing time watching Instagram grow into a vibrant community of people from all around the globe.

Why Microsoft spent $1 billion on AOL's patents — Microsoft dropped an eye-popping $1 billion on 800 AOL patents today, an astonishing amount likely spent to keep the intellectual property trove away from rival Google. — But according to a source close to the situation, Google didn't even bid on the portfolio.

Nokia Lumia 900 hit by bug that disables data — Nokia Lumia 900 launch marred by data bug — Nokia's Lumia 900 launch has been partly soured by a bug encountered by early adopters. Both an AT&T source for Phone Arena, as well as buyers on Nokia's forums and those at WPCentral …

How Google is using OpenFlow to lower its network costs — Google is checking out a new form of networking protocol known as OpenFlow in the communications networks that run between its data centers. The search giant is testing the use of software-defined networks using OpenFlow in order …

About Pando — Some of you may have read Sarah Lacy's post today stating that I'm no longer on the board of Pando Daily. — This wasn't a complete surprise to me, the company notified me last week that they weren't happy that I and MG Siegler (my partner at CrunchFund) were going to speak at TechCrunch Disrupt this coming May.

A Faster Emulator with Better Hardware Support — The Android emulator is a key tool for Android developers in building and testing their apps. As the power and diversity of Android devices has grown quickly, it's been hard for the emulator keep pace. Today we're thrilled …

Regulators Sue Silicon Valley Entrepreneur — Benedict Van was trying to make a name for himself in Silicon Valley. For two years, the entrepreneur would crisscross California, paying house visits to investors in hopes of raising cash for a pair of online start-ups he founded.

Carriers Band to Fight Cellphone Theft — The nation's major wireless providers have agreed to a deal with the U.S. government to build a central database of stolen cellphones—part of a broad effort to tame an explosion of thefts nationwide. — The database, which the wireless companies …